You'll need to sign in or create an account to connect with an expert.
Look at the form 1040 line 1 ... is there anything in the margin like SCH 65?
There are a number of different kinds of income that get added into the wages on line 1 of your Form 1040, but do not come from W-2 box 1. Many, but not all, of these types of added wage income are indicated by an abbreviation and amount shown to the left of the total wages on line 1. Do you have an abbreviation to the left of the amount on line 1? The most common of these are the following.
Some other types of income that might be added into line 1, without an abbreviation, are the following.
If you have a PDF (or printed copy) of your 2019 tax return with all forms and worksheets, not just the forms for filing, look at the Wages, Salaries, & Tips Worksheet. It will show you everything that's included in line 1, and where it comes from, including all of the possibilities mentioned above.
I just want to add a couple of comments. These kinds of problems come up all the time, and it's very frustrating.
Is the school's financial aid office really so rigid that they can't just overlook a $65 difference on a $59,000 item? That's a difference of 0.1%. How much of a difference would $65 of income make in your son's financial aid? If you can't easily figure out what the $65 is, maybe you should try to talk to someone higher up in the financial aid office.
If the $65 turns out to be taxable scholarship income (SCH 65 on line 1), you would think that the people at the school would know about that. After all, a lot of college students have scholarships. But we get a lot of questions from people whose college financial aid offices tell them that their tax return is wrong because of scholarship income being added to the wages. There's a surprising amount of ignorance about tax returns among the people in college financial aid offices who review tax returns all the time.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
NameForYou
Level 2
TomG6
Returning Member
Jenn44
New Member
LLLnew
Level 2
spearmichael1
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.